Caribbean embraces cryptocurrencies

(Source: Travel Pulse) Caribbean governments, along with regional public and private sector organizations, are exploring cryptocurrencies like Bitcoin in large part to address the region’s laggard economic growth, high debt levels and dwindling access to U.S. banks.

The Caribbean Tourism Organization (CTO) is the latest regional institution to embrace cryptocurrency, announcing this week a pact with blockchain technology company Bitt Inc. designed to facilitate “the implementation of more efficient payment processes for tourism-related products and services,” said CTO officials in a statement.

The groups announced a memorandum of understanding under which Bitt’s digital wallet and merchant applications “will be promoted to help foster broader economic participation in community-based tourism and related sectors.” You can read more at https://www.travelpulse.com/news/